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Author Topic: Is mining Illegal?  (Read 2798 times)
kuusj98
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October 19, 2012, 06:51:22 PM
 #1

Hey,

Im mining now but my friends ask me: Isnt this illegal?
I asked them why they tough that and they sed: Its actually a program that gives you free money!

But now I want to know if Mining IS illegal...

someone plz awnser!

-kuusj98
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Aahzman
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October 19, 2012, 06:57:30 PM
 #2

No.

kuusj98
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October 19, 2012, 06:59:20 PM
 #3

No.


Ok, thanks!
But what do you actually Proces with mining?
BR0KK
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October 19, 2012, 07:08:37 PM
 #4

Nope mining doesn't give you money ...
U get BTC and you have to exchange them to fiat.

Mining is more like finding gold or diamonds. In our case it's like solving a realy hard math problem.
And that's not illegal in any country I know

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October 19, 2012, 07:15:37 PM
 #5

Nah, go spread FUD elsewhere  Roll Eyes

greyhawk
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October 19, 2012, 07:17:46 PM
 #6

OP is 14 and in the Netherlands. He should really explain to his parents what he is doing. Otherwise he'll have to have a talk about why their utility bill suddenly skyrocketed. Electricity is expensive there.
kuusj98
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October 19, 2012, 08:27:19 PM
 #7

OP is 14 and in the Netherlands. He should really explain to his parents what he is doing. Otherwise he'll have to have a talk about why their utility bill suddenly skyrocketed. Electricity is expensive there.

lol, playing battlefield 3 consumes more energy than this, and I am only EXPIRIMENTATING -__-
Come on, I may be 14, but know loads of things aboud pc's and it never hurts to TRY something.

Yes indeed here are energy prices towerhigh, thats why I try to save energy on other things like lamps and monitor etc. and I only mine less than 4 hours per day as I have school and that shi*.
So, we all learned thing by trying, succeding, failing, and more trying.

My system consumes ~200w while mining, that aint too much. (I OC'd the GFX and underclocked the CPU to get max engergy saving possible while still getting ~300 mH/s)

PLEASE, dont underestimate people under 16, thats not fair. Some of my friends dont even know what a Cpu means, or Ram.
Its almost always the same thing on forums: 'he is only a teen so he cant do anything than play COD'

I know what I'm saying, im not a random N00b floating around on the WWW, remind that...

greyhawk
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October 19, 2012, 09:01:08 PM
 #8

I didn't mention your age because I think you're too young to do this  Smiley, but to remind you to involve your parents in this due to the possible cost. Miners around here usually have much more ambitious setups that would translate into much higher cost, so that is what we think of when someone talks about mining.  Wink

With the setup you describe of course it'll be only between 5 and 10 € depending on your energy cost, so you're in the clear there. On the other hand with this setup it is also very unlikely to produce enough revenue outstripping cost, so there's that. Especially with ASICs and the reward halving just around the corner.  Undecided
kuusj98
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October 19, 2012, 09:24:45 PM
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I didn't mention your age because I think you're too young to do this  Smiley, but to remind you to involve your parents in this due to the possible cost. Miners around here usually have much more ambitious setups that would translate into much higher cost, so that is what we think of when someone talks about mining.  Wink

With the setup you describe of course it'll be only between 5 and 10 € depending on your energy cost, so you're in the clear there. On the other hand with this setup it is also very unlikely to produce enough revenue outstripping cost, so there's that. Especially with ASICs and the reward halving just around the corner.  Undecided

I know, but remember: Expirimentating.
This insnt my job, and I didnt bought the system for this target.

Yeah my 'setup' is an AMD phenom ii x4 965 BE, 8 gb ram, Asus Radeon HD7850 (OC'd), Cooler Master Silent Pro M2 620w, antec 900 case....

lol I nevar gonna spend 10.000$ on Ub3r systems. I only discovered Bitcoin 2 days ago you know Tongue
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October 19, 2012, 09:26:35 PM
 #10

You will not mine anything worth while with a 7850 mining 4hours per day..

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October 19, 2012, 09:28:48 PM
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You will not mine anything worth while with a 7850 mining 4hours per day..
It's worthwhile for experimenting, which is what he wants to do.
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October 19, 2012, 09:31:42 PM
 #12

Quote
lol I nevar gonna spend 10.000$ on Ub3r systems
That is the top-tier ASIC  Cheesy

A Jalapeno cost 150$ and a Little Single SC 650  Smiley

JoelKatz
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October 19, 2012, 09:57:04 PM
 #13

Im mining now but my friends ask me: Isnt this illegal?
I asked them why they tough that and they sed: Its actually a program that gives you free money!
It's not "free money", it's fair payment for the useful work you did.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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BitcoinINV
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October 19, 2012, 09:58:19 PM
 #14

Hey,

Im mining now but my friends ask me: Isnt this illegal?
I asked them why they tough that and they sed: Its actually a program that gives you free money!

But now I want to know if Mining IS illegal...

someone plz awnser!

-kuusj98

Yes please stop now LOL

kuusj98
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October 19, 2012, 10:11:08 PM
 #15

Hey,

Im mining now but my friends ask me: Isnt this illegal?
I asked them why they tough that and they sed: Its actually a program that gives you free money!

But now I want to know if Mining IS illegal...

someone plz awnser!

-kuusj98

Yes please stop now LOL

Uhm... I just asked a normal question...
 
kuusj98
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October 19, 2012, 10:13:41 PM
 #16

Im mining now but my friends ask me: Isnt this illegal?
I asked them why they tough that and they sed: Its actually a program that gives you free money!
It's not "free money", it's fair payment for the useful work you did.

Yeah My friends arnt the smartest lol...
Thanks for your reply!
nobbynobbynoob
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October 19, 2012, 10:20:04 PM
 #17

Yes please stop now LOL

Uhm... I just asked a normal question...
 

He's just kidding. Grin

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BitcoinINV
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October 19, 2012, 11:04:04 PM
 #18

yea Im just giving you a hard time dude. Its part of bitcoin lol. Mine away!

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October 19, 2012, 11:11:38 PM
 #19

It's legal as of right now in most (if not all?) countries. I can see China or Iran making it illegal in the near future though. But that's mere speculation.

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BitcoinOxygen
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October 19, 2012, 11:42:53 PM
 #20

Im mining now but my friends ask me: Isnt this illegal?
I asked them why they tough that and they sed: Its actually a program that gives you free money!
It's not "free money", it's fair payment for the useful work you did.


i agree with you The Bitcoin Network pay's you for the work you do.

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